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. >> if an unemployment extension is not included in the fiscal cliff deal, 2.1 million americans will face an immediate loss in federal unemployment insurance. it will result in a cut of $284 a week for the average beneficiary. and that's a lot of dough for the average american. it's important to keep in mind the unemployment cliff is really a cliff, urban a slope. tax increases and other spending cuts will fall into place over time. but not with unemployment insurance. unemployment americans who rely on federal aid will be cut off on january 1st, 2013. however, there is some good news on the unemployment front. the four-week average of job claims dropped to roughly 356,000. it's the lowest level since march 2008. but unfortunately, the national unemployment rate is still 7.7%. and if republicans in congress fail to accuracy millions of unemployed americans will be off to a very rough start for the new year. for more on this let's turn to the reverend dr. haines iii, senior pastor at friendship west baptist church. dr. haines, welcome to the show. >> thank you, professor dyson. >> isn't it ironic, dr.
the fiscal cliff in just hours, time is running out for congress to make a deal. and what a difference a day makes. on thursday, things looked bleak. >> speaker boehner is unwilling to negotiate we have not heard a word from leader mcconnell. nothing is happening. >> we wanted an agreement, but we had no takers. >> o'donnell: it took a trip to the white house and a package scolding from the president. >> the american people are watching what we do here. obviously, their patience is already thin. this is deja vu all over again. >> o'donnell: but by week's end, senate leaders agreed to make a last-ditch effort to get a deal. >> so i'm hopeful and optimistic. >> i'm going to do everything i can. i'm confident senator mcconnell will do the same. >> o'donnell: we'll have the
over the cliff, fiscal cliff even if a deal is struck just because of the maneuvering of how to get something passed in the senate and the house. so if you have a deal this afternoon you still have to get it to the floor of the senate, you have to talk about it, debate, you have to get through a series of votes, then you are talking about possibly 10:00 p.m. tonight where you get something passed if you get that far. then potentially the house takes it up tomorrow. if you again there are a lot of roadblocks because we don't know the specifics of the deal. rick: we heard that republicans have basically been dealt a poor hand when it comes to these negotiations. but is the than that bad that republicans will have to vote yes for tax rate increases without the promise of any spending cuts at all? >> reporter: there will be a large portion of the house republican caucus who will not do that. they just won't. they were voted -- they were elected not to do that. they were sent from their districts just as the president says he has a mandate from the election because he campaigned on raisi
agreement regarding the fiscal cliff. no deal has been reached yet. senators today will technically be working on a praiseholder -- placeholder bill in the event there is a fiscal cliff agreement. until the deal's reached, we expect we'll hear discussion at least on the fiscal situation. take a look now live on the floor of the u.s. senate, and we'll bring it to you live here on c-span2. the presiding officer: the senate will come to order. the chaplain, dr. barry black, will lead the senate in prayer. the chaplain: let us pray. almighty god, we praise your name. you are high over all the nations and your glory is greater than the heavens. let your spirit move our lawmakers to do your will. teach them valuable lessons from hardships and adversities, as they work to be worthy of the sacrifices of those who have already given so much for freedom. lift them from the darkness of hopelessness so that they may take steps toward your light. may your presence and grace bring comfort, as you inspire them to choose what is right and just. may they take the tide that leads to fortune rather
. >> we're going end one a small kick the can down the road bill that creates another fiscal cliff to deal with this fiscal cliff. >> reporter: today's meeting at the white house is the first time since mid-november that at the present time has had all four congressional leaders in the same ram at the same time. their past fiscal cliff talks have not been productive. adding to the urgency, 2 million unemployed americans will lose their benefits on saturday if a deal is not reached. the nation's borrowing limit to finance is 16 trillion will be maxed out by monday. and it is unclear how lawmakers will move forward at this point, but if the senate is able to make a deal before the house returns to capitol hill sunday, house members will have about 24 hours to approve it. live at the white house, danielle nottingham. derek, back to you. >> danielle, thank you. >>> derek, you might remember a few weeks ago we built, then broke out the 9news fiscal cliff soapbox, giving our passionate viewers a chance to sound off on the impending fiscal cliff. now that the cliff is within spitting distance we
a deal on the fiscal cliff? we are going to debate that plus, france says no to high taxes on the rich. could the united states learn something from that? we'll analyze that when we come back. ♪ need not wonder why ♪ ♪ no tim ♪ ♪ you're a heartbreaker, dream maker ♪ >> welcome back to a sunday prime time edition of "the five." and as the clock ticks down and going over the so-called fiscal cliff. no deal he yet, but there is some finger pointing going on. >> i'm concerned about the lack of urgency here. i think we all know we're running out of time. this is far too much at stake for political gamesmanship. we need to protect the american families and businesses from this looming tax hike. everyone agrees that that option is necessary. >> i will say this, i think that the republican leader has shown absolutely good faith, but it's just that we're apart on some pretty big issues. >> and senator reid-- >> this has been a blame game from the very, very beginning and dana, we saw today president obama take to the sunday shows and spend the whole time blaming republicans. if we
are trying to negotiate a scaled-down debt deal to avoid some of the fiscal cliff and take other major decisions on taxes and spending to the future. again, in an afternoon white house meeting president obama pitch a debt plan he had outlined a week ago, prevent a tax increase for income of less than to an effective thousand dollars per year and extend long-term unemployment benefits. senate leaders are using that framework to try to craft a proposal to pass both houses of congress. aides say it would likely increase the threshold for tax increases, reversing massive pay cut from medicare doctors, and elections of millions of americans to avoid paying the alternative minimum tax. an increase in the debt ceiling is not part ofhe discussion. that is significant development r house republicans who won any increase in the borrowing limit it accompanied by an equal amount in spending cuts taking the debt ceiling of the table making it much easier for the scaled-down version to be negotiated. from here senate leaders will try to secure an agreement by sunday morning. if so, democrats and rep
. hours from the fiscal cliff. what both sides are saying t the prospects for a deal. cbs 5 eyewitness news is ne. good evening, i'm ann notarangelo.,,,,,,,, we begin with breaking newsn concord: a car --out of control -- slams into a fun home... anli
say major progress make progre toward a fiscal cliff deal. guest: mitch mcconnell when they spoke yesterday, he called in joe biden and said he needed a partner to work with. joe biden, who was in delaware and had not been involved in negotiations, came in at the end to try to work out something. it does seem like overnight they were talking and making the kind of progress that they had been hoping for. we are really at the clock ticking before the end of the year host: what about the house? if lawmakers and the white house are not able to read this last ditch effort, the country will likely go over the fiscal cliff, as you pointed out. guest: the house speaker had said very clearly that they do not anticipate passing anything before the senate passes something, but they want to see what the senate does. they will then take that bill and either amend it or approve it. if they amend, they will send the amended version back to the senate. over the weekend bypassed some rule changes that will allow them to move more quickly and do those sorts of things rather than the waiting period
newspaper reports what in the world is going on with the fiscal cliff, you hear about a small deal sort of in the works between harry reid and mitch mcconnell, maybe it's not voted on until monday, maybe no deal at all. maybe sequestration is going to happen so for that let's go to washington. >> juliet: all right. tick-tock, tick-tock, time is almost up for lawmakers as we say to avert the fiscal cliff. they worked throughout the weekend in hopes of hammering out some sort of deal. >> dave: peter doocy is live in washington and we hustle you over to the capitol. and what is the latest, do you think we'll get something done? >> reporter: dave, we were told late in the evening that legislative staff was going to work through the night, but the only principal we heard from was mitch mcconnell who said he and his democratic counterparts have been trading paper all day saturday, but the only big news, mcconnell cared to share with us, in the state he represents, kentucky, louisville beat the university of kentucky by three and meanwhile, the officially republican weekly address features ano
as soon as i get here. and the fiscal cliff deal, and are we going to get it done? we will talk to three top lawmakers and they are not in washington yet. and you have been hearing about the movie "django unchained" and the tarantino film has sparked controversy and also a feud between two top directors. and you will get some alex witt this weekend, because she talked to lester holt about what he got dragged into doing on his thanksgiving vacation. and also a lot of people ringing in the new year, and there are going to be issues with snow. s causing issues with people returning back home after the holidays. get ready. we'll have all that. so yes, melissa, good to see you this weekend. >> thanks, t.j. as t.j. might say, don't sleep on our legendary foot soldier who still inspires us all. by t? by the barrelful? the carful? how about...by the bowlful? campbell's soups give you nutrition, energy, and can help you keep a healthy weight. campbell's. it's amazing what soup can do. your doctor will say get smart about your weight. that's why there's glucerna hunger smart shakes. they have carb
to put together a deal to arod the fiscal cliff. time for our sunday group, bill kristol. evan bayh, byron york and kirsten powers. well, bill, you just heard mitch mcconnell say he is hopeful and optimistic. will congress pass something in the next 48 hours, something to avoid the fiscal cliff? >> i don't know. but i guess probably. and it will be a bad deal but i suppose better than doing nothing. amazing every working american's taxes will go up on january 1. they are doing nothing about the payroll tax which is a big increase, 2%. and we will have totally irresponsible defense cuts. everybody agrees this is probably bad policy to have middle class americans taxes go up and this is what congress thinks is a good deal. >> chris: i'm not sure they think it is a good deal but a deal that avoids the worst of the fiscal cliff. senator bayh, obviously we don't know what is your sense? no filibuster in the senate. you heard what lindsey graham said and do republicans pass whatever it is that the senate agrees to? >> i think the odds are some what better than 50/50, chris, that we get a
costly. >> i'm hopeful that a deal will avoid the worst parts of a fiscal live cliff. >> the tax increases need to be averted, avoided. they can be. i think in the end we'll get a deal. the question is the timing of that. >> according to administration officials, senior white house staff will hold a conference call with some of the country's top business leaders within the half hour to brief them on negotiations. we're told the president will not be on that call. live in the newsroom, keith russell, news4. >>> stay with us. coming up at 50:30, we'll break down the immediate impacts on american there's no deal and explain how it would hit our local economy. again that's in the next half hour. >>> it's an epic rivalry. washington versus dallas. this weekend the stakes are as high as they've ever been. the rivalry can split households right down the middle. richard jordan joins us live from feddics field. richard? >> reporter: pat, there is no doubt about it, come sunday families will be pouring into the stadium or sitting around the tv to watch the big game, but some some cases thi
as these issues are hanging. so we get a fiscal cliff this deal and i think he's going to be gone by the end of the month but i think it's kind of up t in the air. host: says a contender for his job would be jack lew. guest: that's the betting money. is his job if he wants it. and there's some question if he wants it. that's a big commitment. i think he would be expected to stay for the entire term. he has been a white house official throughout the time. so the question is if he wents to take it and if he wents it he'll probably get it. host: where did he come from before chief of staff? guest: he's been in government for a long time. he was the budget director for president clinton. he was on wall street during the bush. but he basically made his bones in the government. he was a long-time assistant to former house speaker tip o'neal. he helped put together the social security deal so he's been involved with budget issues for quite some time in the 80s and 90s. host: christina next. caller: thanks for c-span. host: go ahead. caller: thank you so much for c-span. i'm having a problem because
a fiscal cliff deal until late january, but the possible market turmoil to follow could create a stock buying opportunity. joining me now, global financial services president and portfolio manager. of course you'll see the glass half full on this one. yet been saying this since november, to be fair. >> taking the position that we don't think the politicians are really going to get anything done until the backs of firmly against the wall which will be after the first pay cycle of the new year. that's why we are expecting third week of january, but this is also an opportunity. we have to recognize that. if you look at the market today, just imagine. if you pull 20 investment professionals yesterday we probably would have said markets are going to be down today. better than expected economic news. cheryl: is trying to, but they're is a lot -- one of the best performing sectors of 2012 was financials. it would have predicted that at the beginning of 2012? is in that kind of hard for people to focus on what sectors for people to look at when you have this crowd of cliff uncertainty? >> ther
. thank you. >>> three days to cut a deal and avoid the fiscal cliff. fox all-stars weigh in when we come back. [ male announcer ] this december, remember -- what starts with adding a friend... ♪ ...could end with adding a close friend. the lexus december to remember sales event is on. this is the pursuit of perfection. the red cross was down here all the time. [ man ] they've given us a lot of heart. in times of need, they're there. ♪ [ kerry ] my dad was watching his house burn. he turned around, and all of a sudden, therwas this guy standing there from the red cross. at a point where i had just lost everything, the idea that there was someone there... that's an amazing thing. ♪ i am modestly optimistic an agree. can be achieved. no one is going to get 100% of what they want but let's make sure that middle class families and the american economy and in fact the world economy aren't adversely impacted because people can't do their jobs. >> we engaged in discussions, majority leader myself and the white house. in the hopes we can come forward as early as sunday and have recommendati
pass a deal to avoid the so-called fiscal cliff, but is that optimism justified even if the senate can can come together and craft a deal? a very big if at this point and what are the chances that house speaker john boehner can get members of his congress to go along with the deal. joining me now perry bacon and lynn sweet. i want to start with you because i read something that you wrote an article recently in which you said basically that the rumors of the tea party's demise have been greatly exaggerated noting their key role in refusing to go along with john boehner's tax plan to raise taxes on those making more than $1 million a year. the fiscal cliff debate has illustrated then during influence of the tea party and the power of the conservative party. boehner can't guarantee that his members won't face primary challenges from the right so there's little surprise they won't follow his lead. >> mcconnell's not going agree to something that all other republicans are opposed to because he's a republican, too, and he has to worry about a primary, potentially, as well. the core of this i
back because of the fiscal cliff. they're coming back in case there is a potential deal, in case there is something to debate and discuss. now, there are other things they can do if there is no fiscal cliff deal. namely hurricane sandy supplemental might need work, also work on the farm bill, also overdue. there are other things, plenty of business to work open, but the truth is they're coming back because of the fiscal cliff, in case there might be a deal, and also to show that they're working until the last minute. >> lisa, i love you, but you just depress me. >> oh, no! >> i know. >> have faith. have faith. honestly, it is not -- these guys are best at the last minute. i think we're far from the last minute, though it feels that way to a lot of people. especially the unemployed losing their benefits tomorrow. it is a serious matter. they're best at the last minute and they're not there yet. >> we shall see. >> try to smile. >> i'll try. i'm sure many americans are trying as well. >>> we talked about the effect of hitting the fiscal cliff on american taxpayers. what about busin
this is playing out. that is your take on how close we may or may not be to a deal to avoid the fiscal cliff? >>guest: we have a framework on taxes. they are working out a deal on the massive spending hikes. taking an amount to it as the president said, not a scalpel and it could be too deep. we are a way of from dealing with that. but i make the point that it is still not clear whether a deal like this could make it through the senate. it seems likely the republican leader is on it but the bigger question is, will it get through the house of representatives republicans? conservatives will be frustrated there is no spending cut? also, republicans today are saying they were inflamed with their opposition hardened that the president came out and pointed his finger at republicans and made it like a campaign-style i vent and senator john mccain ripped it to the president saying that is not how he should do it in the final hours. >> it is the time for presidential leadership. it is time to stop the cheerleading the time to stop the campaign. the president won. we know that. he won fair and square
and all house members are not here in washington trying to work out a deal on the fiscal cliff. here is more from leader reid a short time ago. >> if we go over the cliff and it looks like that's where we're headed, mr. president, the house of representatives, as we speak, with four days left after today before the first of the year aren't here with the speaker having told them they will give them 8 hours notice. i can't imagine their consciences. >> reporter: of course president obama has left hawaii. he is heading back to washington from his family vacation. we learned from the white house that the president had made calls to the top four congressional leaders mcconnell and boehner on the republican side, pelosi and reid on the democratic side. we'll see what the president has in mind when he touches down back in washington a little later this morning, harris. harris: mike you mentioned it. i'm mentioning it too. it is coming into the newsroom from senator mcconnell's spokesperson and just wondering what the republicans say they want. they want to review legislation and make decisi
days away from the fiscal cliff and there are real consequences to millions of americans if no deal is cut. congressman elijah cummings and ryan grim of the huffington post are here with the latest. a tea party giant stages a coupe with his own office. the details on dick armey's hostile takeover. the nra is catching heat from all directions. >> i don't think the nra is listening, i don't think they understand. >> georgetown university law professor, david cole on the growing drumbeat against the nra. >>> six days until the price of milk shoots up to $8 a gallon. why house republicans are take ing america to the dairy cliff. >>> and civil liberty groups take on torture in zero dark thirty. >>> if no deal is reached, the nation will go over the fiscal cliff in a little more than five days and house republicans are doing nothing more than posturing. president obama is flying back to washington tonight from his christmas vacation in hawaii to make one last attempt to get a deal before midnight new year's eve. the senate is returning and will be in session tomorrow for the same purpose.
thirty. >>> if no deal is reached, the nation will go over the fiscal cliff in a little more than five days and house republicans are doing nothing more than posturing. president obama is flying back to washington tonight from his christmas vacation in hawaii to make one last attempt to get a deal before midnight new year's eve. the senate is returning and will be in session tomorrow for the same purpose. senate majority leader harry reid is trying to determine what kind of bill he can get through the senate with limited republican support. meanwhile, governor neil abercrombie of hawaii tonight announced that lieutenant governor brian schatz is as fit to feel the seat of the passed senator daniel inouye. he will leave hawaii for washington tonight and is expected to be sworn in sometime tomorrow afternoon. the democrats are wasting no time in the event harry reid needs the vote to avert the fiscal cliff. but the house? a different story. speaker john boehner held a conference call with republican leadership today, and basically decided to do nothing. there are no immediate plans to ret
be cutting spending. whatever deal we get out of all this fiscal cliff madness at the end of the day, is going to be on their terms because of the sequestration they forced from the debt ceiling threat which was irresponsible. the idea in the times today made you think these guys are out of the picture, they have some scuffling at the top. >> what do you make of the article itself? coming at it? do you think they are trying to gin up some kind of -- that is the people who are more interested in seeing this article put forth, they're trying to say the tea party is declining when it's not? >> i think it reflects that shift and the fact that you got more people and more money going into this thing. that's that grass tops part you spoke to. this happens in washington a lot. everyone wants their group to sound as powerful as possible. you wrote the book on hip-hop, with your blessing, i'd like to quote some lines tonight. i'm reminded the blessing's not all the way there. for the audience at home, i'm getting a skeptical look. would you rather be underpaid or overrated? must people would
is it going to take to get congress to compromise and get a deal done on the fiscal cliff? from washington to all around the country americans are fed up. >> this whole thing is a national embarrassment, an embarrassment to the president, an embarrassment to both sides of the aisle and both the house and the senate. >> the election is over. you got your seats. you're re-elected. congratulations. you have a job. now work and do it. >> fiscally irresponsible decision trying to please everyone and you please no one at all. >> they've got to work together. >> they appear to be very self-centered. >> joining me now retired admiral and former democratic congressman joe sestak of pennsylvania and msnbc contributor and former bush/cheney senior adviser robert trainum. kelly o'donnell has just reported some of the latest information. we heard there was progress overnight and we understand vice president biden and republican leader mitch mcconnell exchanged phone calls until about midnight and their aides then continued to work and we've been reporting the various areas of progress including the fac
congress is close to striking an 11 the hour deal to keep our nation from plunging off the fiscal cliff but he says the two sides still have ground to cover and the time is running out. that one-two punch that will kick in, hours from now, on january 1, and if the president and congressional lawmakers cannot hash it out, the united states could fall into another recession. here is part of the framework for the agreement. the bush tax cuts would expire for incomes above $400,000 for individuals and $450,000 for families. unemployment benefits would continue for one year and the estate tax would go up. we have learned lawmakers are still working out the automatic spending cuts. president obama weighs in saying middle class families can not get caught in the middle. >> the last thing folks like the folks up here on this stage can afford right now is to pay an extra $2,000 in taxes next year. middle-class families can not afford it, businesses cannot afford it, our economy can not afford it. >>trace: traders on wall street are watching the president's comments. the chance of going over the
cliff. no deal yet but we're getting lots of mixed messages. >> that's a good way to put it. >> mixed messages around washington today with some animosi animosity, but here's what senate majority leader harry reid had to say just a little while ago. listen. >> i say to the speaker take the escape hatch that we've left you. put the economic fate of the nation ahead of your own fate as speaker of the house. millions of middle class families are nervously watching, waiting and counting down the moment until our taxes go up. >> well, senator kay bailey hutchison is republican from texas, first elected back in 1993 and served in leadership positions and been an outspoken nor to the budget and defense. senator, great to have you with us here. >> we sure are going to miss you, one of the great group of moderates. >> maybe you're relieved to be leaving at this point. >> thinking of new year's eve here in washington and thinking, you know, this is the time to exit. >> go out while things get a little mess over there. how will you feeling after the variousade lines toit about getting things don
vacation to deal with the fiscal cliff, just five days to go until we go over. >> threatening both coasts with workers snubbing up best and final contract offer. >> and more on the home front. we'll have more on the data and whether it can keep one of the best performing sectors of 2012, home builders going in 2013. >> data showing what some experts say is the slowest growth in spending since the 2008 recession. according to mastercard, spending polls units through christmas eve, retail sales rose just .7% from the year before. the national retail federation says it is forecasting a 4% jump in sales. we'll continue to get trickles of data as we progress through this last week. it is still an important week, the final week before the new year in terms of retail sales for these guys. >> historically positive the last five days of the year and blends into the first couple of days of the new year. generally get a nice year-end effect. we'll get claims tomorrow. new home sales tomorrow. chicago pmi on friday. but this idea that retail is soft, was it the fiscal cliff? was it sandy? was it some
. breaking news, president obama urges congress to make a deal to overt the fiscal cliff. he announces no deal, but progress may be in sight. >> and that would be the wrong thing to do for our e con mu. it would be bad for middle class families and bad for businesses that depend on family spending. fortunately, congress can prevent it from happening if they act right now. i just had a good and constructive discussion here at the white house about how to prevent this tax hike on the middle class. and i'm optimistic we may still be able to reach an agreement that can pass both houses in time. senators reid and mcconnell are working on such an agreement as we speak. >> it comes after speaker boehner left the white house. he didn't say anything to reporters and neither did anyone else who was seen leaving the meeting. here's what we do know. in just four days, taxes will go up on millions. and millions more will have their vital unemployment benefits run out. that's why president obama organized the meeting with vice president biden, speaker boehner, nancy pelosi and senators reid and mcco
spread the stories that he will come to the table with a deal. swan dive off the fiscal cliff, hold your nose. we're going off. president obama wants to us go off hecht will come back with a largeer plan. the obama tax cut. then he will be able to reintate across-the-board sequestration cuts. 8.2% across the board. cut defense and health. they will be able to reintate a lot of programs and give his caucus the opportunity to say look, i am voting for something. i am voting to restore tax cuts for the middle class. voting to restore great thin things. republicans are in a tough position. no one will say vote to restore the tax cut for rich. this is his game plan from day one. >> eric: what is the a terptive? $250,000 and above? we see obama not oftenning cuts at all. looking for spending. >> kimberly: managing the message very well. conciliatory. >> andrea: boehner did -- boehner has taken heat. in his defense he has taken a ton of flak on this. he has given a terrible hand of cards. but he came to the table. he tried to at least bring something to the floor. mitch mcconnell knows he can't
could hear from mitch mcconnel and harry reid. because no deal to avoid a fiscal cliff there is major uncertainty . investors are embracing for trading. dow plunge would 158 points on friday. it was the longest state of losses since july. there is a sell off over seas today to lock in profits. >> another major health scare for secretary of state hillary clinton. >> she was supposed to be back on the job this week. she is instead waking up in new york city hospital new york presbyterian. a blood clot in a follow-up exam. she was forced to cancel the hearing. lawmakers said a hillary clinton must testify before a vote can happen with senator john kerry. nine people are killed and two doysen are injured when a bus crashed off a highway. the bus was driving through a mountain pass. the bus plummled 200 feet down the slope. >> famous ball drop in sometimes square. beefing up security and thousands of extra chromes scattered in the crowd. trust me they are e top of unifs there will be bomb sniffing dogs commissioner ray kelly will said times square will be the safest place on new york's eve
a deal to avert the fiscal cliff crisis. at this point, the approaching deadline can be measured in hours, and expectations are being scaled down accordingly. >> i suggested to them, if they can't do a comprehensive package of smart deficit reduction, let's, at minimum, make sure people's taxes don't go up. >> the president appearing on "meet the press" this morning, pushing a narrow last-minute deal that would extend the bush tax cuts for the middle class but leave a hoet of other issues unresolved. if congress does reach a small deal on taxes before the fiscal cliff deadlines up, their next fight over the dead ceiling will be queued up and ready to go. whether or not we go over the fiscal cliff tomorrow night, a political stand-off over the debt ceiling is imminent. joining us sort through all of this current and future fiscal crises is ezra klein. at "the washington post" as well as columnist for bloomberg view. thanks for joining us. you addressed the issue of what happens next, i saw you on rachel's show friday. your theory are it's key to how the fiscal cliff plays out. explain. >>
the countried to has the story about the looming fiscal cliff and negotiations underway to get a deal by the deadline. they refer to the talks as a "taxing puzzle." the "l.a. times" has a story on how china's tea farmers are now turning to coffee. why? coffee thrives in high altitude areas and commands as much as three times as much money as tea. >>> also "the spectrum" in st. george, utah has a story titled "unconventional laws." it's an article about how some state laws may seem strange to many residents. one that mandates bicycle riders should keep one hand on the handle bars at all times or get this you could face 90 days in jail or a fine of up to $750. >>> well, three days now to go. you've been hearing about this fiscal cliff. i know you're tired of hearing of it. you've got three more days to hear of it. we might be going off that cliff here shortly. it's the focus right now in d.c. but it's also our focus, the senate in particular. majority leader harry reid and minority leader mitch mcconnell are rushing trying to put together a last-ditch agreement for a bargain, some kind
lawmakers are meeting now to try to stop our nation from plunging off the fiscal cliff. we're total any potential deals hinges on what happens in the meeting. details on that ahead. >>> a man under arrest at a police station struggles with cops, gets a gun and shoots three officers before they take him out. that's coming up. >>> an f.b.i.'s file on marilyn monroe minus main redactions. what the documents say about her suspected ties to communist. >>> that's all ahead unless breaking news changes everything on "studio b." >>> we begin with a fox urgent. i'm trace gallagher in for shepard smith. a face-to-face meeting at the white house getting under way right now. one that could determine whether or not our nation plunges right off the fiscal cliff. take a live look at the white house where president obama called the top house and senate leaders from both parties to try and hammer out a deal avoiding the tax hikes and crippling spending cuts. remember analysts say falling off the fiscal cliff could drive the u.s. into another recession. more than a month has passed since the last time th
to be able to deal with the fiscal cliff. the next congress, unless they reform senate filibuster rules and also -- and you can tell me whether this is a dream come true -- what if nancy pelosi and john boehner kind of got together and nancy pelosi told boehner he could bring the votes for his speakership and then maybe together could isolate the tea party section of his group and take away some of the radical left of her group and bring the moderates together, support him for speakership. me, being a democrat, i would not get everything i want, but the republicans would get everything they wanted. by the time re-election came up they would have seen there was a lot of progress made and maybe they could not run primaries on those guys that decided to run to the middle with policy they laid out together. host: thank you for the call. guest: so many things. basically, you are assuming that john boehner would be elected speaker in a democratic house. it is not likely that they would give him their votes. it is far more likely, quite honestly, that the democrats would like to see continued
second tract i need a deal for all the reasons -- >> if we go over the fiscal cliff he can blame the republicans and he can do the tax cuts on the rich thing, he's the president. i mean, you know, as has been said we don't really remember who the leader of the house was when hoover was president. i mean, you know -- ultimately it's his economy. >> it's his country and it's his economy and it's his government but i think one of the things that is instructive we are now down to such a tiny perspective deal the tough issues are not being dealt with at all. even the sequestration which was supposed to be so horrible, the cuts in other many practices supposed to be so horrible we would never let them happen will almost certainly happen because there is not time to deal with that in the next 24 hours. >> it's a sad -- >> the frustrating thing for me isn't this what we really need to do? i think washington is incapable of making a deal that will help the country. what we're talking about here is a deal that's going to help the politicians. it'll help the president. we're arguing it's go
on the senate to broker a deal for the fiscal cliff. >> senator reid and mcconnell are working on such an agreement as we speak. but if an agreement isn't reached in time between senator reid and senator mcconnell, then i will urge senator reid to bring to the floor a basic package for an up-or-down vote, one that protects the middle class from an income tax hike, extends unemployment to the 2 million americans looking for a job and lays groundwork for more economic growth and deficit reduction. >> just moments ago, senator harry reid says he's readying a bill for a vote by monday. all this follows a rare face-to-face closed door meeting at the white house today between all the key players, the president, the vice president, the treasury secretary and all four congressional leaders huddled together with just four days to go before we all go overs fiscal cliff. that meeting lasted for an hour and five minutes. on a story where every second and every maneuver counts, let's get chief to white house correspondent jessica yellin. jessica, the president says he's modestly optimist be
, the voice on sunday. there is no deal yet on the fiscal cliff. so what does it all mean for you and your money? well, we will have you back and we will talk about the cutbacks to spending and what it all means to you. we have got the experts to give you some advice. it's our exclusive fiscal cliff roundtable and it's coming up right now on cnn. what a night, huh? but, um, can the test drive be over now? head back to the dealership? [ male announcer ] it's practically yours. but we still need your signature. volkswagen sign then drive is back. and it's never been easier to get a passat. that's the power of german engineering. get $0 down, $0 due at signing, $0 deposit, and $0 first month's payment on any new volkswagen. visit vwdealer.com today. on any new volkswagen. boproductivity up, costs down, thtime to market reduced... those are good things. upstairs, they will see fantasy. not fantasy... logistics. ups came in, analyzed our supply chain, inventory systems... ups? ups. not fantasy? who would have thought? i did. we did, bob. we did. got it. >>> it is the one issue that affects just
the fiscal cliff. a top lawmaker reporting progress in the last-ditch efforts to hammer out a deal in time. a health crisis lands secretary of state hillary clinton in the hospital, what doctors are telling us about her condition. plus, iran test firing a new range of weapons right near the strait of hormuz where a chunk of oil passes each day. the impact on the middle east and on our world, it's all "happening now." >> reporter: there is a note of optimism in the race to avoid the fiscal cliff. hello, everybody, i'm uma pemmaraju in for jenna lee today. jon: good to have you here. optimism is always a good thing in washington. that is in short supply. ringing in 2013 at midnight tonight could mean ringing in more than half a trillion dollars in tax hikes and a hundred billion dollars worth of spending cuts from defense and other key domestic programs, that is if no deal is reached in time to avert it. both the house and senate with rare new year's eve sessions today as they try to hammer out some sort of an agreement. >> we do have to work together, because without bi-partisanship nothing
passed to deal with the fiscal cliff that are now over the united states senate. if the senate wants to do anything with them, amend them and send them back to the house and perhaps the house will act on it. essentially what boehner is saying is we're not making any moves until the senate amends the two bills we passed over or sends a new one. what are in those bills? well, they essentially extend the bush tax cuts permanently for all earners. and then to avert the sequester and other types of cuts, they make what a lot of liberals have called draconian cuts to meals on wheels, food stamps. it goes into discretionary spending. the house passed bills are absolutely would go nowhere. and would be vee toad by president obama. so this is what we're seeing on the statement the day after christmas is while you guys figure out some solution, we wash our hands of it. >> as a follow-up, i'm putting my press secretary hat on for a second and say the response i would expect from the democratic side from the senate is hey, we passed a bill too. we passed a bill that does the same thing. why don'
-minute deal on the fiscal cliff. >> for the second time in a month, a man has been pushed onto the subway. they're searching for the woman in the security video crack it -- the secret video. she pushed him into an oncoming train and then took off. they are releasing the man's identity, but we're told he died on the scene. the other incident happened december 3rd. a woman has been charged in connection with the slaying of two volunteer firefighters shot in upstate new york. she is charged with filing a falsified business record in connection to the shooter's purchase of the guns used during the attack. christmas eve, two firefighters were gunned down. three other people were wounded before the shooter killed himself. >> in utah, a touching a tribute to the victims of the newton, conn., school massacre. 26 red bud trees now line the entrance to the salt lake city cemetery. each has a picture on it including 6-year-old emily parker, whose parents are you talk natives. >> from a quality education the quality of life, search and for the best college can be challenging. >> when it comes to gett
today on "face the nation." with the country set to fall off the fiscal cliff in just hours, time is running out for congress to make a deal. and what a difference a day makes. on thursday, things looked bleak. >> speaker boehner is unwilling to negotiate we have not heard a word from leader mcconnell. nothing is happening. >> we wanted an agreement, but we had no takers. >> o'donnell: it took a trip to the white house and a package scolding from the president. >> the american people are watching what we do here. obviously, their patience is already thin. this is deja vu all over again. >> o'donnell: but by week's end, senate leaders agreed to make a last-ditch effort to get a deal. >> so i'm hopeful and optimistic. >> i'm going to do everything i can. i'm confident senator mcconnell will do the same. >> o'donnell: we'll have the latest on what that agreement might look like but will it actually do anything to cut the deficit? and what happens nay don't get a deal? we'll hear from two senators who have been working together on deficit reduction, assistant majority leader dick durb
hoping for and working on but it is a deal nonetheless and will prevent at least part of the fiscal cliff set to go in to effect in a matter of hours now. >> mike, we talk a lot here about the sequester, the income tax rates for the wealthy and other issues that need to be resolved or one on the table. one that's not on the table, the payroll tax extension is just gone. unemployment insurance extension looks like it's part of this. and medicare dock fix. you have any sense of two other things that obama's been looking for here? one is an extension of the expansion of the refundable tax credits of stimulus in 2009. these are things pushing for. if that's part of it and obama looking for at least some infrastructure, some stimulus spending. are any of those components in this deal? >> i don't think the spending part is addressed. i could be wrong and i believe per child tax credit is, in fact, addressed and extended in some way, shape or form and heard the president say some of the incentives for green energy in place in the stimulus. as well. i'm not sure if i heard you mention the alterna
guards in school. they will have a deal. if it goes over the fiscal cliff, it will hurt the republicans more. host: thank you for the call. a photograph of the president, cutting short his vacation. leaders were blaming each other for the stalled negotiations just days before tax increases lock in. more from the floor of the senate yesterday, harry reid. [video clip] >> speaker boehner should not have that members go back. they are not here. they are not here. john bennett seems to keep more about keeping his speakership than keeping the nation on firm financial footing. he is waiting until january 3 to get reelected as speaker. he has so many people over there that will not follow what he wants. that is obvious from the debacle that took place last week. host: back to your calls and comments. negotiations resumed at 3:00 p.m. this afternoon at the white house. north carolina on the republican line, good morning. caller: how are you/ i'm doing well -- how are you? the budget as far as the epa, i wonder if that would help cutting the budget, plus cutting entitlement spending. instead of
people who would lose about $300 a week if this fiscal cliff passes and there's no deal whatsoever. guys, back to you in d.c. >> all right. john harward, thanks for keeping us posted. we're about six minutes before the bell rings in the final session of 2012. let's bring in matt. good to have you with us. the futures are not too bad. we're coming off five straight losing streaks. on friday we saw the vix post the low of the session. what do you think it will happen today? >> i'm not going to put a lot of credence in the futures this morning. i think that's out of the picture for a lot of people. they didn't really notice it because it happened after the close. we're really not going to put any credence in it downstairs today. obviously everything has to do with what they're going to negotiate starting at 10:00. funny thing is, why 10:00? why are we waiting so long? this is a question that everyone has down here, and everyone has across the country. >> you guys are in here at 7:00 a.m. >> yeah, why not start then? this is an important issue. obviously this is the only issue right now for
the fiscal cliff. i've got tens of thousands of federal employees and a great deal of defense spending would be at risk. so if we don't suspend the sequester and it looks like this very small deal may not even achieve that, then i'd have to be a "no" vote. so if i had to guess right now, i don't think we're going to be able to reach a deal no matter how small it might be. of course, at the very best, all we would do is stumble forward for a couple more months until we hit the debt ceiling and then face another crisis which is really a crisis of confidence in the government. i just can't imagine that the american people can tolerate this much longer, but they're stuck with this congress for the next two years. i mean, i have a lot of thoughts on this fiscal cliff but you wanted to talk about the gun measure, and -- >> i do indeed. >> life has to go on. >> we had that provocative phrasing that it appeared the nra may be out of step with its own membership. do you really believe that? >> yes, i do, martin. frank luntz, a republican pollster polled nra members and he found that there are at leas
to the fiscal cliff -- the stakes are high and the time is short. and so far there has been no deal reached between the lawmakers and president obama to try to avoid going over the fiscal cliff that comes on new year's day. but after a meeting at the white house, the president said he is hopeful. >> i just had a good and constructive discussion at the white house with senate and house leadership about how to prevent this tax hike on the middle class. and i'm optimistic we may still be able to reach an agreement that can pass both houses in time. senators reid and mcconnell are working on such an agreement as we speak. >> cnn's chief business correspondent ali velshi joins us from new york with some very good insight. senate majority leader harry reid has said if they don't reach something by monday he'll bring forward a bill to help out the middle class for an up-and-down vote. >> right. >> put everybody on the record, but especially republicans. isn't that the tactic? >> exactly right. the step before that is harry reid is working on some bill that might get bipartisan support in the senat
're keeping our eye on the senate back in session with the fiscal cliff talks now down to the wire. the big question is even if the senate reaches a deal as they continue the debate will republicans pass anything with tax hikes in the house? up next republican congressman tom cole. and baby makes three. kim kardashian and kanye west's big baby announcement. also, sydney, australia celebrating the new year just three hours ago with fireworks over the famous opera house. in new york city, an already crowded times square. people waking up there. our big question what is your new year's resolution for 2013? tweet me at richard lui. we'll share some of your comments later. >>> a live look at the markets which appear to be taking going over the fiscal cliff in stride. many people say it is built into the market. many investors are still confident leaders will strike some sort of deal as talks go down to the wire and even if they don't they are counting on senate majority leader harry reid to present a backup proposal to limit some of the damage. we're watching live pictures on the right-hand side
cliff, lawmakers are finally saying, let's make a deal. >> i'm hopeful and optimistic. >> whatever we come up with will be imperfect, and some people won't like it. >> what will the imperfect solution look like? even if there is a deal, will it be able to pass? and why does it always come to this? >> this is deja vu all over again. >> we'll ask our headliners. from the senate, democrat chuck schumer and republican jon kyl. from the house, democrat chris van hollen and republican raul labrador. in our powerhouse roundtable on all the week's politics with former vermont governor howard dean, former minnesota governor "vanity fair" and maggie haberman of politico. >>> you are looking at live pictures of capitol hill. over the next 12 hours, what happens there or what doesn't happen will cut to the very heart of your financial future and the fate of our struggling economy. good morning, i'm jonathan karl with a special edition of "this week." george is off for the holidays. the world is watching and waiting to see what happens here today in washington. at this hour, congressional leaders
wake up the deadline to the fiscal cliff is just 14 hours ai wa. there's no deal yet, but members of congress are heading back to capitol hill. first, breaking news on the condition of secretary of state hillary clinton. >> she's in a new york city hospital this morning being treated for a blood clot. doctors say it's related to a concussion that's kept her out of the office for the past three weeks. margaret brennan is in washington with the latest. margaret good morning. >> reporter: good morning to you. secretary clinton is taking anti-coagulant to thin out the blood clot. doctors will monitor her for at least the next 48 hours. >> a warm welcome to the secretary of state. >> reporter: secretary of state hillary clinton was admitted to new york presbyterian hospital on sunday after doctors discovered a blood clot during what was termed a follow-up exam to check on her recovery from a recent concussion. >> thank you very much. how are you? >> reporter: clinton's health scare began after she contracted a stomach illness following a whirl wind trip through eur
ahead with your comment. caller: i really don't see much on the fiscal cliff. if they make a deal, either way they go, it will hurt. by the time 2014 gets here and when obamacare kicks in, it will cost me so much that i will have to quit work. it will be worth more for me to be on welfare than to keep working and just working for nothing but health care. host: we will get a response. guest: this is something a lot of people are waiting to see what the impact of that law is going to have. a lot of that, the major provisions don't kick in until now and in the next few years. everyone will wait to see what the impact on the economy will be. there's a big disagreement about what will happen. host: this new york times piece gives a sense of the mood in washington. let's read the first paragraph or two. guest: this is only the fourth time since the 1930's they have had to come back after christmas to do work. this is uncharted territory. no one really wanted to be in a situation, but it was a factor of them having to wait until after the election to start negotiating these things and th
debate that is just around the corner. adam: oh, joy of joy. >> if we get some deal with the fiscal cliff which i think we will and our politicians are the worst even a blind squirrel will occasionally find a nut. they will get this done sometime by january 15th or something like that. if they do not extend the debt ceiling you will have close to armageddon at the end of february and march. adam: spencer i take issue what about our politicians being the worst. our congress is the best congress money can buy. don't forget it. jonathan he is talking about armageddon because of the debt ceiling. i would be terrified if i were not in the market putting my toe in this. there will have to be buying opportunity if people panic and sell. >> which market, adam? that can be the story of 2003 and headlines are obviously scary they have a tendency to sell stocks and buy bonds. that is the safe move. i think the reverse will be true in 2013 and stocks will look quite attractive versus bonds. a highly manipulated market government stepped in and tried to hold interest rates low. once inflation starts t
, it has a better chance of passing them by itself? guest: the house is back to deal with the fiscal cliff bill. the hope to supporters of the sandy supplemental is the house would do something on the fiscal cliff package and somehow they could use that as an opportunity to get the sandy bill through. the chance for the full supplemental to be passed before the end of the year, it will either be a smaller amount or they will not touch it at all. the senate will have to start over next year. host: raymond hernandez i need." >> they joined -- an unusual move they are working together as opposed to saying separately i am in new york, this is what i need, new jersey and connecticut are on their own. they have to make their own appeal. guest: you have a lot of the personalities representing the victims of sandy. they have pulled together effectively after the first few weeks after the storm. they have generally been pushing the same direction. the problem the victims of sandy have in new jersey and new york is there represented almost primarily by democrats. the house is run by republicans. dem
. just seven hours now until the nation goes over the fiscal cliff. and after weeks of negotiations and public posturing, democrats and republicans have reached an agreement on tax rates in their negotiations. let me tell you what we know at this hour. the deal is said to raise $600 billion in revenue over the next decade through a series of tax increases on the wealthiest americans. th bush era tax rates would be text ended for all single americans with incomes below $400,000 and couples with income below 45000$450,000. all income above that would be tacked at 39 pittsburgh.6%. the deal is said to include a permanent fix for the alternative minimum tax and it extends unemployment insurance for another year for 2 million americans. this was huge for the democrats. speaking at the white house in front of a group of middle class americans just a few hours ago, the president urged congress to act immediately. >> for now our most immediate priority is to stop taxes going up for middle class families starting tomorrow. i think that is a modest goal that we can accomplish. democrats and r
deal that addresses only the major parts of the fiscal cliff from taking effect. >> we have got to get on a larger agreement, to make sure we sustained a very fragile economy, tried to get it to move faster, and deal with the long- term deficit. >> those decisions may not happen until 2013. a smaller deal would be temporary, sending congress back to work on the details next year. >> i am not ok with them waiting six months or year kick to get things done. >> jake sherman of "politico" predicts that we will go over the cliff. >> we will not see the government shut down our people not be able to pull money out of banks are things like that. >> still a tough sell for constituency growing tired of the political back-and-forth. >> let's get some things set in place and up and running. >> 1 line of thinking on the hill -- there are many -- if we do go over the cliff that would reset all of the tax issues suchissues. what we do know, the clock is ticking and the waiting game continues, with the house not even scheduled to be in session until sunday afternoon. live of the capitol, steve chenev
to avoid the fiscal cliff, which would mean avoiding automatic tax increases and spending cuts come, you know, 1. the president spoke to the nation this evening after an hour-long meeting with congressional leaders at the white house. democrat and republican leaders have agreed to extend jobless benefits and some tax increases. they appear to remain deadlocked on who exactly will pay those higher taxs. we have two reports tonight, beginning with major garrett at the white house. major, good evening. >> reporter: good evening, jeff. two things are clear tonight that were not clear this morning-- progress is real and if a deal is reached, it will be far smaller than any of the key players envisioned only a couple weeks ago. is this deal, if it's to be reached, will not the so-called grand bargain with trillions of dollars of deficit reduction. in fact, jeff, it's not even clear this deal-- again, if there is one-- would stop the across-the-board spending cuts for the defense department and other government programs. it looks like those cuts will go forward. what the president said today is
the fiscal cliff today. can a lais-minute deal be reached? one source revealing this is how talks are really going. >>> and look at this. a rare fight caught on camera. two of the most gentle creatures on the planet breaking out in a wild showdown. giraffes. does this battle all come down to a woman? >>> and we're counting down to the biggest party in the world. get your party hats on and get ready to celebrate. we're live with where the ball will drop tonight. ryan seacrest is helping us ring in the new year. only on "gma." >>> and good morning, america. the new year, of course, has already begun on the other side of the world. out here in times square, we have a crowd. there you see the celebrations in auckland, knnewzealand. we get ready to say happy new year. george, robin, josh, sam, and lara are all off. we're glad to welcome dan abrams, ron claiborne and rachel smith. >>> we have a big news cycle going on. secretary of state hillary clinton in the hospital. we'll get to that in just a moment. a diagnosis of a blood clot. >>> we have some weather stories. including the latest on this h
go over the so-called fiscal cliff. senate leaders spent the weekend working on a last-ditch deal and the house comes back today for a rare sunday night session. yesterday afternoon in an exclusive interview, president obama sat down with me in the blue room of the white house to discuss the way forward and his priorities for a second term. mr. president, welcome back to "meet the press." >> it's great to be here. thank you. >> so the obvious question, are we going over the fiscal cliff? >> well, i think we're going to find out in the next 48 hours what congress decides to do. but i think it's important for the american people to understand exactly what this fiscal cliff is. because it's actually not that complicated. the tax cuts that were introduced in 2001, 2003, 2010, those were extended, and they're all about to expire at the end of the year. so on midnight, december 31st, if congress doesn't act, then everybody's taxes go up. and for the average family, that could mean a loss of $2,000 in income. for the entire economy, that means consumers have a lot less money to make purc
the hour for immediate action is here" to avoid the fiscal cliff. if there's no deal by midnight december 31st. there will be automatic tax increases and spending cuts. we'll have more from our political analyst in a minute - but first. kron 4's justine waldman is back with more on our developing story. >> reporter: after meeting with bi-partisan leaders friday, the president said no one will get 100-percent of what they want. he said if congress can't reach a deal. congress should allow a vote on a basic package that would preserve tax cuts for middle-class americans, >> i am optimistic that we can still pass a deal in both houses in time, mitch mcconnell, and harry reid are working on an agreement as we speak >> i have my confidence destroyed on other occasions and so i hope it is not on this occasion the timing, we have to do it now that is what the next 24 hours will be very important. >> we had a good meeting in the white house we are engaged in discussions with the majority, the leader and myself in hopes that we can come forward as early as sunday and have a recommendation that i c
minute, but to avoid going over the fiscal cliff, to avoid taxes being raised on middle class folks and on 98% of america to avoid, in my view, a sequestration that would be very damaging to the defense and nondefense sides, there's an agreement that's possible, and, you know, there are four issues that are outstanding. each of them is bridgeable in a certain way. they are, we believe that the bush tax cuts should go up for people above $250,000 income a year. there is a disagreement on estate tax. we prefer the 2009 levels. jon would prefer something else. whether unemployment insurance is included in, we feel that's very important, and then whether you use some small portion of the revenues you gain from the tax increases to pay down sequestration per year. those would be the four areas they have to come to agreement on. there are some areas i think there is agreement. dealing with the amt patch so that middle class people don't go up, the sgr, the medicare and some tax expenditures on business and middle -- >> let's be clear here. you're talking about extending tax cuts for most
republican kay bailey hutchison from the senate floor but the lack of a deal to avert the fiscal cliff. >> the senator from texas. >> mr. president, we are here just hours before a looming deadline that is going to affect just about every american in some way and i do believe that both sides of the aisle and both sides of the rotunda want to come to a conclusion that will keep us from having what looks like a complete meltdown of governing in washington. someone asked the question in one of our conferences, when was the last time that congress was in session and voting between christmas and new year's. the answer was since 1970 there has not been such a session and it has actually happened only four times in the history of our country and two of those times were dealing with world war ii. so i think enormity of the issue is very clear. that's why we are here. i think we should have done this six months ago, a year ago. i think all of us agree that we shouldn't be here at this last hour still trying to negotiate a point at which so many americans are going to be more heavily taxed. i wa
, senator john thune spoke with reporters on where things stand on the fiscal cliff. >> where do things stand as far as a republican deal? >> republicans advanced a proposal last night and you heard senator mcconnell talk about it on the floor. we're still waiting for a counteroffer. there was an indication we would receive the by 10:00 this morning, but discussions still continue. senator mcconnell and vice president joe biden are continuing to discuss this and we think there still could be a path forward. democrats have come out and made a huge deal out of changing this and republicans are very concerned that it should not be used as an offset to reduce or replace some of the spending cuts that would occur and democrats put forward an alternative. this is a process. there's a lot of give-and-take going on. republicans do not want to see new revenue, democratic tax increases, being used for new spending. that is where many members are drawing the line. >> you all want to use this technical level, but it would really affect social security recipients in the sequester. democrats want to
away if we go over the fiscal cliff? >> no, because there is going to be a little deal and we're going to continue to struggle and we're going to continue to have basically slow growth. that's the most likely scenario. >> i rarely agree with jeffrey, but a agree there. we're going to be sitting at this table in a couple months having this exact same discussion. >> whereas had we done the big deal seven weeks following the election, i believe the economy would have exploded. >> mary thompson, would wall street have exploded if we had a big deal? that would have been good news. >> if we had a big deal, that would definitely provide a catalyst for wall street. in large part, remember, the thing about the markets is they don't like uncertainty. >> right. >> once you clear up the uncertainty, there is a clear path, and that, a number of people say, could really send the markets off to the races. the u.s. economy, the fundamentals are there, and that's frustrating business owners, because they think they're in a good position, but what they need is clarity from washington. >> so, basically,
on this so called fiscal cliff. i'm going to bring in the republican from the great state of caps cannes. always great to have you on the show. first of all, will the majority of republicans vote for this deal even though i'm not sure what the deal is on the sequester side? >> is there is an interest of solving the problem i think what you said is how most republican ares feel. we need to know the details of the deal and i'm on the side if it is going to be postponed it is going to be paid for by reduced spending elsewhere. that is the wrong direction to go. so while there is an interest and believe that we are getting close to a deal, there is yet enough unknown that you can't answer your question at this time. >> it troubles me, if you run off the sequester and run off the tax revenues to make up the difference which is what the president said today in his goofy press conference. if that happens, i want to ask you if this thing can actually pass. too quick, 51 votes and 60 votes and democrats and republican ares can the two come together? is that how it might work? >> my guess is that
are desperately trying to reach a deal on the fiscal cliff today, hoping to avoid steep spending cuts and tax increases. kristin welker is at the white house where the president had a high-profile meeting with congressional lawmakers on friday. good morning. >> reporter: carl, good morning to you. all eyes are on the senate this morning as majority leader harry reid and minority leader mcconnell true to cobble together a last-minute plan to avoid the fiscal cliff. president obama saying he is modestly optimistic that they can come up with a plan in time. on friday, president obama met with the four top congressional leaders here at the white house for about an hour. sources close to those talks say that the president gave lawmakers two options, either come up with a plan that can make it through both chambers or put his proposal up for a vote. under the president's plan, the bush-era tax cuts would be extended for those making $250,000 or less with rates allowed to raise on top income earners. it would also extend unemployment insurance benefits. president obama saying the time for action is
when people were starting to lose hope on the edge of the fiscal cliff the president met with leaders and said he was modestly optimistic about a deal on taxes. meeting this the red room, president obama held firm for tax cuts for families making up to $250,000 per year, and joining me on the north lawn of the white house is kristen welker. kristen, let's listen to what the president said about and up or down vote or what he expects from the senate. >> i had a good and constructive discussion here with the leadership about this tax hike on the middle-class. i am optimistic that we can reach an agreement that will be passed in both houses. if an agreement is not reached in time between senator reid and senator mcconnell, then i will urge senator reid to bring to the floor and up or down vote for the floor, and i believe a p proposal could pass both houses with majorities as long as the leaders allow it to actually come to a vote. if members of the house or the senate want to vote no, they can. but we should let everybody vote. >> kristen, this up or down vote seems to be be the big new
from the hospital. >>> last chance. the nation now just hours from going over the fiscal cliff after lawmakers fail to reach a deal over the weekend. could a last-minute push from vice president joe biden get something done before your taxes go up? >>> and oh, baby. kanye wecakanye west surprises y announcing his girlfriend, kim kardashian, is pregnant with their first child. how her family is reacting to the news "today," monday, december 31st, 2012. >> announcer: from nbc news, this is "today" with matt lauer and savannah guthrie live from studio 1a in rockefeller plaza. >> welcome to "today" on a very busy monday morning. i'm willie geist. >> and i'm erica hill. matt and savannah have the morning off. >>> we'll have the latest on secretary of state clinton's condition in a live report straight ahead. it is the last day of 2012. >> you and i are both in the same situation with young children. >>> people filing into times square in new york city. it is the world's biggest party. of course, security will be extremely tight. we'll check in on celebrations there and around the world. >
already passed legislation to avoid the entire fiscal cliff. senate democrats have not. joining me now from d.c. nbc news white house correspondent peter alexander. peter, there was word the last hour that the president may have sent some sort of deal. the white house then turning around saying that's not true at all. where was the confusion? >> reporter: well, you hear the frosty statements back and forth as you just indicated there, craig. ah, the holidays in washington. a lovely time, isn't it? right now it appears clear if there's conversation going on it is not happening between the primary players but perhaps between their surrogates, senior staff and others, between those on the hill and here at the white house right now but senior white house -- senior administration official told me a short time ago that there is no proposal being sent up to the hill today. harry reid, the senate majority leader, also denied that any such thing was taking place today. both of those denials do also come against the backdrop of the fact both sides acknowledged this is not something they plan to
. the minority leader has appealed to the vice president directly in a last-ditch deal to avoid a fiscal cliff. kerry reid stepped back from the talks on the senate floor. and he had yet to hear back from the. -- from them. we will show you comments in a short while ago. taking your phone calls on the fiscal cliff with two days to go, the house and senate vote in a session today. the house came in at 2:00 and they gaveled out shortly thereafter. we expect them to come back to take up about 1 dozen bills. we are expecting votes at around 6:30. it is also possible that the house rules committee could be to discuss potential legislation that could be agreed upon in the house and senate. let's go to william in st. paul, minn.. caller, how are you? >> doing fine. caller: -- caller: how are you? >> doing fine. caller: these problems for them are everyday trials and whatnot. there was a man who was laid off where i work that. >> what kind of work? caller: maintenance work. it was a situation where i was telling like -- i was prepared for the fiscal cliff. i have been prepared for the last three month
leaders from both parties tomorrow to work out a deal hopefully to avert the fiscal cliff. and former president george h.w. bush remains in intensive care at a houston hospital after a series of health setbacks. >>> and the former president among those tonight mourning the death of the legendary american general storm norman schwarzkopf. he booted saddam hussein's forces out of kuwait in the he died in central florida. the assignment the last chanter in an extraordinary olive of service. general schwarzkopf was one of the most well known commanders in modern mill tare arery history. >> he most certainly was. his command of the gulf war inspired me to become a war correspondent. although he had a long connection with that region. he was obviously -- famous for being commander of the forces during the golf war. he had gone to school in tehran and iran as a kid. they were stationed there. schwarzkopf guided military school before serving in the south vietnamese airborne division. by the time he was a lieutenant colonel he distinguished himself by helping rescue men of his battalion from
business including a possible deal on the fiscal cliff. the senate will be in at 1:00 eastern. though it's in the senate are scheduled for to o'clock p.m. eastern. according to "the washington post" perry began mitch mcconnell have set a deadline at 3:00 when they will be convening caucus meetings and that date members for a possible plan on taxes and spending. president obama was on "meet the press of" today saying the pressure is on congress to make a deal. he was optimistic, but he said that they cannot come to an agreement, he wants the senate majority leader to introduce legislation to make sure middle class taxes stay where they are. live coverage of the senate on c-span2 when the gavel in. the house out to woodcock with the boats as early as 6:00 looking at a number of legislation from veterans to foreign aid. you can watch the house live here on c-span. >> republican olympia snowe from maine is also retiring at the end of the 112th congress after three terms. next, her farewell address. it is about 35 minutes. >> i rise today with an infinite appreciation for the institution of t
in hopes of a last minute deal to avoid the fiscal cliff. 11 news saturday morning starts right now. >> good morning and welcome to 11 news saturday morning. i'm jennifer franciotti. lisa has the weekend off. >> i'm barry sims. third time's a charm this week with the winter weather. a snowy day is on tap for us. let's get right to lou mowser to tell us all about it. >> some folks were expecting to see some snow when they woke up this morning. >> we were expecting it. >> some areas are seeing flurries right now. most are not. i think this is going to start a little bit later on them than what we anticipated. starting to show up on radar. let's show hd doppler right now. currently, the areas that you see in darker blue, that's where snow is falling. but, the whiter areas that's snow is coming down, but it's not hitting the ground. when you can see areas south of the dc area around annapolis. we're seeing a rain/snow mix that is starting to fall there. what's interesting is you see this area, this open area start to hagers town and comes down around winchester. that area is moving in h
on the ground in the lower 48 than the last year. >> next, just six days until the f fiscal cliff. the clock is ticking and it's not just about taxes. ahead, what else is at risk if a deal isn't reached in washington? and the latest on former president bush. an update on his condition is next. one phillips' colon health probiotic cap each day helps defend against these digestive issues with three strains of good bacteria. approved! [ female announcer ] live the regular life. phillips'. omnipotent of opportunity. you know how to mix business... with business. and you...rent from national. because only national lets you choose any car in the aisle. and go. you can even take a full-size or above. and still pay the mid-size price. i could get used to this. [ male announcer ] yes, you could business pro. yes, you could. go national. go like a pro. yes, you could. excuse me, sir i'm gonna have to ask you to power down your little word game. i think your friends will understand. oh no, it's actually my geico app...see? ...i just uh paid my bill. did you really? from the plane? yeah, i can manage my
of snow on the ground in the lower 48 than last year. >>> next, just six days until the fiscal cliff. the clock is ticking and it's not just about taxes. ahead, what else is at risk if a deal isn't reached in washington? >>> and the latest on former president george h.w. bush. an update on his condition is next. trust duracell to power their donated toys? duralock power preserve. it locks in power for up to 10 years in storage. guaranteed. duracell with duralock. trusted everywhere. i'm going to dream about that steak. i'm going to dream about that tiramisu. what a night, huh? but, um, can the test drive be over now? head back to the dealership? [ male announcer ] it's practically yours. but we still need your signature. volkswagen sign then drive is back. and it's never been easier to get a passat. that's the power of german engineering. get $0 down, $0 due at signing, $0 deposit, and $0 first month's payment on any new volkswagen. visit vwdealer.com today. advil pm® or tylenol pm. the advil pm® guy is spending less time lying awake with annoying aches and pains and more time asle
-called fiscal cliff, if we get to january 1st and no deal, i think there's a universal expectation that for 98% of the country, the income tax thing addressed within a week or two. neither democrats or republicans let that go completely. the amt is fixed basically every year. that's going to be fixed eventually. it looks like looking at the reports of the offer that obama is supposedly making this afternoon, going to tell republicans, yeah, you win on the estate tax if you take the offer and only thing talking about is the payroll tax. that's already obama apparently gave up on it two weeks ago and gone no matter what and only the refundables. >> yep. >> you're talking about hugely important to the working poor but for the vast majority of the country, it's almost ir el vant. we are just -- >> they aren't tax credits and what you fill out when you fill out your taxes which won't happen until 2014. if they're in effect, it costs the average family an extra $3,400 or so but in the first week, two weeks, actually, costs the average family about $40 and that's the payroll tax and if it's in effect
to reach a deal on taxes and spending. as a result we are going of the fiscal cliff. joining me now, former adviser to president george w. bush and doug shown, democratic strategist and fox news contributor. welcome to you both. >> thank you so much. gerri: am i surprised by what is happening? no. and my interest? no. and so of start with you. how would you grade the president's lead on this issue today? >> well, i'm not trying to give anyone a good mark, the president by and certainly not congress. i hope my colleague in the spirit of the new year would recognize that the entire political establishment has let us down. we are going to get at best that deal on taxes, not going to get anything to reform entitlements or spending. in my question to you, do you think republicans in the house should vote for this deal? gerri: wait a minute. before you go to that i want to mention, we should acknowledge your that there is still a possibility the senate will vote on these ideas that we have described ad nauseam today about extending tax cuts for single ardors of 400,000 less couples, families of 4
vacation for the hard reality of the fiscal cliff negotiations. the president called all four congressional leaders last night in an effort to reach a deal, but did that call fall on deaf ears? jared bernstein, former chief economist to vip biden, as well as a contributor. i want to start with the new statement from senator mitch mcconnell's office coming out says last night he called other lead serious. the leader is happy to review what the president has in mind, but to day date the majority has not put forward a plan. jared, is that good they're actually speaking, however far apart as it may sound, at least they're talking? >> it's a bit good. better to be talking than north. the unfortunate thing are the words they're saying. i don't hear much compromise or kind of conciliation in the statements we've heard thus far. i do hear a lot of theatrics, you go first, no you go first. it's strange to say the democrats haven't put forth any legislation on this, because in fact they have. in fact, a democratic majority in the senate passed a bill that's pretty similar to the compromise that the p
ready to do a thelma and louise and plunge over the fiscal cliff? some lawmakers sounded gloomy about any chances for a compromise deal. >> passing pln b would not have changed the outcome. we would have gone over the cliff before, we will go over the cliff now because it's what the president wants. you can't negotiate with someone who does not want to negotiate. >> in the aftermath of the house republicans rejecting speaker boehner aers so-called plan "b," it's the first time i feel like we will more likely go over the cliff than not, and if we allow that to happen, it will be the most colossal consequential act of congressional irresponsibility in a long time, maybe ever in american history. >> nine days remain to get a deal done. lawmakers are home for the holidays. house speaker boehner is in ohio. president obama as reported is in his native hawaii. before leaving washington, president obama urged congress to pass a mini plan that would preserve middle class tax rates. brianna keilar joins us live from hawaii. what do we think will happen as the holiday week rolls out? >> reporte
to avoid the most immediate economic impacts of the fiscal cliff. with 15 hours to go and counting, members of congress are disgusted and embarrassed. >> when the future of the country, you know, rests in the hands of 70 and 80-year-olds who have jet lag, it's probably not the best thing. >> something has done terribly wrong when the biggest threat to our american economy is our american congress. >> the senate will reconvene at 11:00 this morning, but after a day of public gamesmanship and little obvious progress behind the scenes on sunday. >> there's still significant distance between the two sides, but negotiations continue. >> i want everyone to know i'm willing to get this done, but i need a dance partner. >> mitch mcconnell called on vice president joe biden to be that dance partner. biden has brokered 11th-hour deals with the republican leader in the past. mcconnell's appeal came just hours after the president appeared on "meet the press" and called out republican leaders by name. >> congress has not been able to get this stuff done, not because democrats in congress don't want to g
majority leader and minority leader mitch mcconnell talk about a deal to avert the fiscal cliff. they spoke on the senate floor after a meeting at the white house. >> i talked to the republican leader generally, everyone knows we have been to the white house, we have had a constructive meeting. we hope that something positive will come from that. the republican leader and i and our staffs are working to see what we can come up with. we should not take a long time to do that. it would be in everybody's interests if we were not in session tomorrow. it is my plan to come in at 1:00. we have an hour in a previous agreement that we have, an hour of debate on that, we will have a vote. we have another vote that has been set up -- a simple majority -- >> mr. leader, you're talking about sunday? >> yes. for us, we will have another caucus following that, and by that time we will make a determination, senator mcconnell and i, whether we can do something on the floor in addition. i think we need that time to have everybody step back a little bit. if we come up with something that is not that easy, we
things stand on the fiscal cliff. >> where do things stand as far as a republican deal? >> republicans advanced a proposal last night and you heard senator mcconnell talk about it on the floor. we're still waiting for a counteroffer. there was an indication we would receive the by 10:00 this morning, but discussions still continue. senator mcconnell and vice president joe biden are continuing to discuss this and we think there still could be a path forward. democrats have come out and made a huge deal out of changing this and republicans are very concerned that it should not be used as an offset to reduce or replace some of the spending cuts that would occur and democrats put forward an alternative. this is a process. there's a lot of give-and-take going on. republicans do not want to see new revenue, democratic tax increases, being used for new spending. that is where many members are drawing the line. >> you all want to use this technical level, but it would really affect social security recipients in the sequester. democrats want to use new revenue from tax increases. is that the wa
31 to reach a deal on the fiscal cliff, otherwise tax increases and spending cuts go into effect. negotiations between congress and the president could take friday when all four leaders of the house and senate meet with the president at the white house. a look at the countdown to the fiscal cliff, the guest will be a white house honor. home on a ship and the united states with tools author of american the nightmare how neighbor -- america undermines the negotiation nightmare. more from militia and townsman of the u. s economic research surfaced and heron radcliffe. coming up on c-span, a discussion on the history of the new york times. an examination report on the impact of student loans on parents. interviews with returning members of congress continue with senator been wilson of nebraska. >> you think of washington, 25 years before the civil war, what would you think? woody things lavery was well entrenched, black people were more in visual. white people were true and gift. that is actually not true as well. washington then had about 30,000 people of them. the majority of the b
the fiscal cliff. meanwhile, president obama cut his hawaii vacation short to return to washington today. but has he been working on a deal? "outfront" tonight, reports from both ends of pennsylvania avenue. chief white house correspondent, jessica yellin, and senior congressional correspondent, dana bash. jessica, first, to you, the president's back in washington, wheels down. he left his christmas vacation early. but was this just a bit of showmanship, or has he been working on something specific? >> reporter: hey, john. well, today has been a bit of a quiet day here at the white house. publicly, the president has been scarce, no sign of him. behind closed doors, i'm told a few meetings internally, but mostly, relatively quiet. i expect we will see more from the president, perhaps we could even see him publicly tomorrow. perhaps he could even meet with or talk to some of the congressional leaders. the president's role in all of this, he can get each of the leaders to come closer on what the white house believes is already, pretty clearly, the framework for a final deal, and he can also
in just hours. can they agree on something before sending the country over the fiscal cliff? >>> and holy cow. $8 for a gallon of milk? why that utterly ridiculous price could be a very real possibility today, friday, december 28th, 2012. >>> and good morning, everyone. welcome to "today" on a friday morning. i'm savannah guthrie. >> i'm willie geist in this morning. she is full of milk puns this morning. holy cow. utterly. >> what are you, lactose intolerant? >> the trifecta. >> we'll move on to the big story, which is the weather. we're bracing for another big storm before the last one is done. >> it's expected to bring a new round of travel headaches during a holiday travel weekend. how will it impact you in more on that ahead. >>> also, retired general norman schwarzkopf has died at the age of 78. he's being remembered as one of the greatest military figures in u.s. history. more on his remarkable life coming up. >>> also ahead, it happened again. a man shoved to his death in front of a new york city subway train. this time, the suspect is a woman. we will have the details. >>> and la
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